Markets muted as investors hope for rate relief

• Published date: 05 June 2023
• Author: Barry O'Halloran
• Publication title: Irish Times: Web Edition Articles (Dublin, Ireland)

Dublin

The Irish market opened on the bank holiday but remained more restrained than most others, traders said.

Index heavyweight, building materials giant CRH fell 1.14 per cent to €44.94. Ryanair inched 0.15 per cent up to €16.895, outperforming a few in its industry who saw their shares slide on Monday.

Housebuilder Glenveagh added 1.53 per cent to €1.06. AIB closed up 1.13 per cent at €3.944.

London

Indivior jumped 7.8 per cent to 1,590 pence sterling after the drugmaker agreed to pay $102.5 million to settle a lawsuit for its opioid addiction treatment Suboxone.

Asos jumped 7.08 per cent to 375.2p on a report that said the fashion retailer received a £1 billion bid from Alibaba-backed rival Trendyol.

Aer Lingus-owner International Consolidated Airlines Group dipped 0.4 per cent to 157.25p even as chief executive Luis Gallego predicted a strong summer for travel at an industry gathering in Istanbul. The shares hit a low of 155.9p during trade.

Europe

The key European Stoxx 600 index, which tracks leading shares across 18 markets, nudged 0.15 per cent lower.

Air France KLM slid 3.3 per cent to €1.64 on a day when airlines proved unpopular with investors. Germany's Lufthansa fell 2.06 per cent to €9.11.

The European oil and gas sector index climbed 0.9 per cent, lifted by rising oil prices after top global exporter Saudi Arabia...